{"id":2061,"date":"2022-06-30T09:02:43","date_gmt":"2022-06-30T09:02:43","guid":{"rendered":"https:\/\/theinsiderup.com\/this-firm-to-launch-europes-first-bitcoin-exchange-traded-fund\/"},"modified":"2022-06-30T09:02:43","modified_gmt":"2022-06-30T09:02:43","slug":"this-firm-to-launch-europes-first-bitcoin-exchange-traded-fund","status":"publish","type":"post","link":"https:\/\/theinsiderup.com\/this-firm-to-launch-europes-first-bitcoin-exchange-traded-fund\/","title":{"rendered":"This Firm To Launch Europe’s First Bitcoin Exchange-Traded-Fund"},"content":{"rendered":"
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Brussels: <\/b><\/p>\n
Jacobi Asset Management said on Thursday that it would launch Europe’s first bitcoin exchange-traded-fund (ETF) on the Euronext exchange, in a sign of the cryptocurrency’s appeal despite its volatile price swings.<\/p>\n
The company said its Jacobi Bitcoin ETF would start trading in July on Euronext Amsterdam under the symbol of ‘BCOIN’.<\/p>\n
“The Jacobi Bitcoin ETF will enable investors to access the underlying performance of this exciting asset class via a well-established and trusted investment structure,” said Jacobi CEO Jamie Khurshid, a former Goldman Sachs banker.<\/p>\n
Earlier this month, Bitcoin fell to as low as $17,592.78, dropping below $20,000 for the first time since December 2020.<\/p>\n
Bitcoin, the largest digital currency, is down about 70% from its high of around $69,000 in November.<\/p>\n
Other cryptocurrencies have also plunged in recent months as investors dump assets deemed as relatively high-risk in favour of safe-haven assets such as gold in response to rising inflation and tighter monetary policies by major central banks.<\/p>\n
Earlier this month, ProShares announced plans to launch an ETF aimed at ‘shorting’ bitcoin – namely betting on a future fall in its value, while the U.S. securities regulator rejected a proposal to list a spot bitcoin exchange-traded fund (ETF) by Grayscale, one of the world’s biggest digital asset managers, on the NYSE Arca exchange.<\/p>\n
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)<\/i><\/p>\n<\/div>\n